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Australia (Commonwealth of) Dec 06
Standard & Poors, Dec 2006
Abstract
Sound public sector finances, reflected in low public debt and strong fiscal discipline Prudent monetary polices, which have maintained price stability while promoting growth Political stability, strong institutions, and transparency in economic and fiscal decision making High current account deficits and external private debt Some concentration of exports in the potentially volatile agriculture and mining sectors The ratings on Australia are supported by the country's solid financial profile, strong institutions, and transparent policy environment. The ratings are also bolstered by Australia's resilient and competitive economy, which is underpinned by past structural reforms. These strengths are partly offset by the high level of private-sector external indebtedness and a degree of economic concentration. Australia has one of the best fiscal positions globally....
Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings),Australian Industry Development Corp.,Export Finance & Insurance Corp.,Australian Postal Corp.,Airservices Australia,Commonwealth Scientific and Industrial Research Organisation,Australian National University (The)
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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